Susquehanna Fundamental Investments LLC Takes Position in Tenet Healthcare Co. (NYSE:THC)

Susquehanna Fundamental Investments LLC bought a new stake in Tenet Healthcare Co. (NYSE:THC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,700 shares of the company’s stock, valued at approximately $891,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of THC. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tenet Healthcare by 0.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after acquiring an additional 90 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Tenet Healthcare by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares in the last quarter. Violich Capital Management Inc. raised its holdings in shares of Tenet Healthcare by 3.2% during the 1st quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock valued at $355,000 after buying an additional 105 shares in the last quarter. GAMMA Investing LLC lifted its position in Tenet Healthcare by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after buying an additional 106 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in Tenet Healthcare by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 8,915 shares of the company’s stock worth $1,186,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the subject of several recent research reports. Raymond James boosted their price target on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price target on Tenet Healthcare from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Citigroup boosted their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Barclays raised their target price on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $168.00 price target on shares of Tenet Healthcare in a research report on Tuesday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $152.69.

Tenet Healthcare Stock Down 0.7 %

Shares of NYSE:THC opened at $161.81 on Thursday. Tenet Healthcare Co. has a 12-month low of $51.04 and a 12-month high of $171.20. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 0.86 and a beta of 2.14. The stock has a fifty day simple moving average of $157.86 and a two-hundred day simple moving average of $134.18. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.42. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.98 billion. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. On average, research analysts anticipate that Tenet Healthcare Co. will post 10.72 earnings per share for the current fiscal year.

Tenet Healthcare announced that its board has approved a share repurchase program on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meghan Fitzgerald sold 20,000 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the sale, the director now owns 15,269 shares of the company’s stock, valued at $2,234,465.46. The disclosure for this sale can be found here. Insiders sold 128,203 shares of company stock valued at $19,754,997 over the last 90 days. Corporate insiders own 0.93% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.